On the morning of February 28, 2024, the Faculty of Environment, Climate Change and Urban Studies at National Economics University (NEU), in collaboration with the Climate Compatible Growth Network (CCG Vietnam), organized a lecture on carbon markets and a practical session on the CarbonSim trading platform.

A view of the training session

Attending the training session from outside the University were Prof. Josh Margolis, Administrator of the CarbonSim Trading Platform, U.S. Trade Advisor, and the program’s keynote speaker; Prof. Michael Mehling, Deputy Director of the Center for Environmental and Policy Research at the Massachusetts Institute of Technology (MIT); Dr. Roxanne Tan, Manager at South Pole Southeast Asia, Singapore; and Dr. Dang Hong Hanh, Director of Vietnam Energy and Environment Consultancy Joint Stock Company (VNEEC).

Representing NEU at the training session were Prof. Dr. Dinh Duc Truong, Dean of the Faculty of Environment, Climate Change and Urban Studies and Senior Advisor to the CCG Vietnam Network; Dr. Nguyen Hoang Nam, Lecturer, Coordinator of the CCG Vietnam Network, and a speaker at the training course; along with lecturers from the Faculty of Environment, Climate Change and Urban Studies and more than 160 students, lecturers, and staff from units within and outside NEU.

Prof. Dr. Dinh Duc Truong, Dean of the Faculty of Environment, Climate Change and Urban Studies and Senior Advisor to the Vietnam Climate Compatible Growth Network (CCG), delivers remarks

In his opening remarks at the training session, Prof. Dr. Dinh Duc Truong, Dean of the Faculty of Environment, Climate Change and Urban Studies, thanked Prof. Josh Margolis and his colleagues for taking the time to visit, deliver lectures, and provide practical trading guidance to NEU faculty, staff, and students and participants from outside the University. The Dean emphasized that Vietnam is taking a pioneering role and striving to fulfill its “green” commitments, and is regarded by the international community as a model for developing countries. The Government recently issued Decree No. 06/2022/NĐ-CP on greenhouse gas emissions mitigation and ozone layer protection. The Decree provides for trading greenhouse gas emission allowances and credits on the domestic carbon credit exchange in accordance with regulations, offering companies whose greenhouse gas emissions exceed the threshold solutions to reduce their emissions. The lectures in this training course therefore have important practical significance in providing knowledge and building the capacity of NEU lecturers, students, and stakeholders to access and prepare the foundations for the carbon credit exchange’s official launch in 2028.

The training session began with a presentation entitled “Introduction to the Carbon Market in Vietnam” by Dr. Nguyen Hoang Nam. The presentation focused on basic knowledge of the operation and trading of emission allowances and carbon credits on the domestic carbon market’s exchange, as stipulated in Government Decree No. 06/2022/NĐ-CP dated January 7, 2022, on greenhouse gas emissions mitigation and ozone layer protection.

Dr. Nguyen Hoang Nam, Lecturer at the Faculty of Environment, Climate Change and Urban Studies and Policy Consultant at NEU

Next, Prof. Josh Margolis, Administrator of the CarbonSim Trading Platform, personally guided participants through practical exercises on the CarbonSim ETS simulation platform. During the simulation, participants were divided into 30 groups, taking on the roles of 30 companies participating in the market with specific emissions reduction targets. Players had to make strategic decisions about selecting emissions reduction technologies, as well as participate in auctions and trade emission allowances through auction sessions and on the trading platform. The ultimate goal was to meet each facility’s emissions reduction target at the lowest cost, which is also the objective companies must achieve when participating in an actual ETS.

Prof. Josh Margolis, Administrator of the CarbonSim Trading Platform and an international expert in carbon trading markets, provides practical trading guidance

The “company” groups practice ETS trading sessions on the simulation platform

Awards are presented to the two most successful groups in the ETS trading exercises

The organizers present gifts of appreciation to Prof. Josh Margolis and Prof. Michael Mehling

At the conclusion of the training session, Assoc. Prof. Dr. Nguyen Thanh Hieu, Vice President, warmly welcomed Prof. Josh Margolis and his colleagues on behalf of NEU’s leadership as they visited the University to work and share their experience. The Vice President also discussed cooperation with U.S. universities and U.S. agencies and organizations in Vietnam, most recently the visit and exchange between Jose W. Fernandez, U.S. Under Secretary of State for Economic Growth, Energy, and the Environment, and NEU lecturers and students. The Vice President expressed his hope that Prof. Josh Margolis would make further visits and engage in research cooperation and training for the University’s lecturers and students in the coming period. During the discussion, Assoc. Prof. Nguyen Thanh Hieu also praised the Faculty of Environment, Climate Change and Urban Studies for its role in building connections and promoting cooperation with international partners, thereby helping share valuable knowledge and skills with the University’s lecturers and students. He also asked the Faculty to build on these efforts and develop plans to expand cooperation in its areas of specialization in connection with current issues in Vietnam.

Assoc. Prof. Dr. Nguyen Thanh Hieu poses for a commemorative photograph with Prof. Josh Margolis and lecturers from the Faculty of Environment, Climate Change and Urban Studies

Additional photos from the training course:

Article and photos: Faculty of Environment, Climate Change and Urban Studies and Department of Communications

This is an automated translation. If you notice any errors, please contact the Department of Communications, National Economics University at phongtruyenthong@neu.edu.vn.